At Metafile Information Systems, we have compiled a list of six accounts payable (AP) technology priorities for 2022, with insights and best practices from our customers and their experiences.
Smaller businesses are following larger enterprises in implementing AP automation technologies but need solutions that can scale to their smaller size. Finding the right technology can increase efficiency and reduce tedious, manual work.
To reap the benefits of an AP technology, businesses need solutions that cater to their specific needs. Vendors will be finding ways to make their solutions flexible so that any AP department can benefit.
3. Disaster/crisis resilience
With lessons learned over the last two years, AP departments will continue to use technology for disaster and crisis recovery. Those hit hard by the pandemic will likely be the first to deploy new solutions as safeguards against future issues.
4. Flexibility for remote workers
Remote workforces are now commonplace and as many businesses decide to pivot to entirely homeworking, AP technology, such as automation, will be integral to maintaining operations and providing real-time visibility when they are making strategic business decisions.
5. Cloud integration
AP technologies are increasingly leveraging the scalability, security and accessibility of the cloud, as well as the ability to assign rights management. As cyberattacks become more sophisticated get smarter and anywhere-access becomes more pertinent, more AP departments will look for technology solutions that are available as cloud-hosted solutions.
6. Increased visibility
We are in the age of instant gratification, and part of that is making sure that AP managers and leadership has real-time visibility into financial processes so they can make more informed business decisions. The AP technology solutions that can provide this will be the most successful in 2022.
Read the full article at metaviewer.com.
Alyssa Putzer is a marketing communications specialist at Metafile Information Systems
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